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Financials January 2012CARMEL REDEVELOPMENT COMMISSION Financial Information Packet For the Month Ending January 31, 2012 Carmel Redevelopment Commission Financial Packet Table of Contents Schedule Section Schedule 1- Budget Year 2012 Monthly Projections and Results 1 Revenue Budget Analysis 1A Expenditure Budget Analysis 1B Summary of Cash and Cash Rights 1C Schedule 2 - Debt Summary 2 Additional Information 2A Developer Bonds 2B Schedule 3 - 4CDC Grant Obligations 3 Schedule 4 - Installment Purchase Contract Summary 4 Mercantile $10,000,000 Contract 4A National Bank of Indianapolis $10,000,000 Contract 4B Regions Bank $25,000,000 Contract 4C Regions Bank $10,000,000 Contract 4D Appendix A - Analysis of Annual 2011 TIF Collections A -1 Irmle,1 , r 01 ,Irrnr170 1(0 Carmel Redeye', _nt Commission Month and Year to Date Revenue Budget Analysis Fort the Month Ending January 31, 2032 Reference A F 1 J .1 e I c J D 3 J (3 1 H 1 1 K Reference 1 .1 2 Current Month Comments Current Year Budget 2 % YTD 3 3 . , , .p_, e t Actual $ Variance Proposed Adjustments Revised YTD $ Remaining Recognized 3 4 RECEIPTS - 9090 0959061194 " 4 5 Line of Credit Draws 50 $0 30 $1,929,069 51,929,069 50 51,929,069 0.00%1 5 6 Line of Credit Repayments 0 0 0 0 0 0 0 0.00% 6 7 TIF Revenue, Net of Developer Pass Through (004,503) (804,863) 0 17,664,443 17,664,443 (904,503) 18,468,946 -4.5551 7 8 NMI Installment Purchase Contract 457,000 457,000 0 860,000 060,000 457,000 403,000 53.14% 9 Regions Installment Purchase Contract 0 0 0 225,000 225,000 0 225,000 0.0004 9 10 Installment Purchase Contract 0 0 0 2,000,090 2,000,000 0 2,000,000 0.00% 10 11 Wells Fargo 0 0 0 354,960 354,960 0 304,960 0.00% 11. 12 12 13 TOTAL REVENUES -.NON OPERATING (347,501) (347,503) 0 23,033,472 23,033,472 (347,600) 23,380,975 -1,51% 13 14 14 15 15 16 16 17 17 18 RECEIPTS-OPERATING 19 Line of Credit Draws 141,671 0 0,1,01) Used other sources tei cotter expenses 0 0 0 0 0.00% 19 20 Line of Credit Repayments 0 0 0 0 0 0 0 0.00% 20 21 Parcel 7a roof repair reimbursement 0 0 0 3,000,000 3,000,000 0 1,000,000 0.00% 21 22 Energy Center payments 32,429 32,429 0 448,000 448,000 32,429 415,571 7.2404 22 23 Parking Surcharge 0 0 0 186,000 106,000 0 186,000 0.00% 23 24 Parcel 7 Tenants' Rent 48,787 48,787 D 338,349 338,349 48,787 289,562 14.4204 24 25 Keystone Group, LLC Receivable 0 0 o 200,000 200,200 0 200,000 0.00% 25 Difference is reimbursement for 26 Miscellaneous revenue 73 755 682 equipment used during an event 70,000 70,000 755 69,245 1.08% 26 A second draw was postponed to a later 27 Line of Credit Grant from 4CDC to CPAF 1,500,000 603,571 (11911,4.0)11) date 3,000,000 3,000,000 603,571 2,306,429 20.12% 27 28 Line of Credit Grant from 4000 0 0 0 0 0 0 0 0.00% 28 29 29 30 TOTAL REVENUES - OPERATING 1,722,960 685,542 (1.,1111/1,4013) 7,242,349 7,242,349 685,542 6,996,807 9.47% 30 31 31 32 TOTAL REVENUES- COMBINED 01,373,457 5338,039 )',7,010 0,000( 530,275,821 030,275,021 5138,039 $29,937,782 32 33 33 34 34 35 35 36 36 -13- Carmel Redo. ent Commission Month and Year to Date Expenditure Budget Analysis 505 160 Month Ending January 31, 2012 Reference A 1 5 1 , 1 0 1 E 1 F i G H 1 1 1 K Reference 1 .1 .1 Current Month Comments Current Year Budget 1 2 %Yin Budget Actual 5 Variance PronOSed Aditistments Revised YTD 5 Remaining Retoenized 2 3 EXPENDITURES, NON OPERATING 3 4 Construction 5 PAC ConstructMn/Petention $73,945 338,945 535,090 Difference was WR Dunkin's retention, which is paid with an Escrow amount 51,550,003 51,510,000 038,540 31,511,055 2.51% 6 7401 0150154405 0 0 0 103,000 103,300 0 103,000 3.00% 7 Palladium Landscaping 457,000 467,000 0 869,000 960,000 457,000 403,000 53.14% 8 5036 Theater Equipment 0 0 0 225,000 225,000 0 225,900 0.00% 8 9 Parcel 70 & 7C Construction Management 0 0 177,000 177,000 0 177,300 0.00% 9 10 Parcel 1 21,129 21,123 0 120,000 120,030 21,123 58,877 17.60% 11 Parcel 5 Phase II 0 0 0 1,750,000 1,750,000 0 1,750,000 0.0031 11 12 Parcel 5 Phase 11 15043053 Costs 0 0 0 750.000 250,030 0 250,000 3,0096 12 13 Parcel 47 Streetscape 23,433 20,433 0 351,200 251,200 23,433 227,767 9.35% 14 Demolition of Grain Elevators 0 3 0 200,000 200,000 0 200,000 3.3096 Monon Trail Revisions 0 3 0 100,300 100.000 0 100,000 0.00% 15 16 Miscellaneous Landscaping 0 0 0 40,300 40,000 0 40,000 0.0096 17 Other Projects 78,519 78,519 0 850,300 850,000 78,515 771,461 5.2431 17 18 4101 Grants 0 0 0 0 3.0090 19 Parking Surcharge 0 0 0 186,000 186,000 0 186,000 0.003/4 19 Parcel 7 Tenants' Rent 48,787 48,787 0 338,349 338,349 48,780 285,557 15.4731 20 21 Tarkington Construction Shortfall 0 0 0 964,000 964,033 0 964,000 000% 21 22 Professional Fees 0 0 0 0 0.0096 22 25 Legal Fees 33,327 33,327 0 600,000 600,000 33,277 565,873 6.5591 34 Arch/Engineering 37,530 37.530 0 620,000 620,000 37,530 582,470 60550 24 Amounting Pees 1,078 1,078 0 45,000 45,000 1,078 43,922 2.4096 25 25 0554 349555655 0 7 0 0 00096 26 27 Parcel 9.28 Party Time 19,000 13,000 0 228,000 228,000 19,000 709,000 843350 27 28 Parcel 3,11 Chaos • land acquisition 4,436 2,436 0 29,230 29,230 2,436 76,794 533% 28 Parcel 14 Harrill 0400997 74405553 10,000 10,000 0 120,000 170,000 10,000 110,000 8.33% 30 Bobby John, LLC 7,625 7,625 0 91,500 91,500 7,625 83,875 8.3394 30 31 NomPAC Debt Service 3,241,105 3,298,664 (5/,,59). Difference is Harris 5344517M debt aerve 3.213,802 3,213,802 3,298,554 (84,852) 102.64% 31 32 2035 006 14555 0 0 0 5,200,000 5,200.000 0 5,200,000 0.00% 32 33 InStallment Purchase Contract Payments 809,063 407,690 401,373 0550005 ,0 clue te a Installment Purchase Contract Payment of S9)6,000 th,P. was paid in the prior month, and due 50 555 Regions Obligations being lower than the forecasted amount due to a variable interest rate and swaps 8,581,507 3,561,607 407,690 8,153,517 4,76% 33 34 Contract Purchase Administrative Fees 12,474 12,481 (7) Difference is Harris gank seNice charge 245,000 245,000 12,481 232,519 5.09% 34 401136 Grant .35,5 of Credit Interest Expense 8,599 0 8,599 This was never granted to 4C0C in January 150,900 150,000 3 150,000 0.00% 35 36 TOTAL EXPENDITURES - NON OPERATING 4,003,044 4,497,636 307,406 24,095,649 0 27,058,688 4,497,638 22,571,050 1E62% 36 37 37 38 38 39 35 40 EXPE31191501365: OPERATING 41 Operations and Mantenance 0 0 0 0 000% 41 42 0p5ratons 42,491 37,834 4,657 Difference is the amount that is automatically withdrawn for payroll and what is approved at the meeting for the previous month's payroll withdrawals 640,539 640,530 37,804 602,696 5.91% 43 Ma594'1130/E4ents 7,913 7,510 0 270,000 270,000 7,913 762,057 2.9391 43 44 Marketing/Business Development 3,150 27,450 :73,700) Difference is two month's worth 47 000 DeRocker bills that were previously approved, hut checks were held at 9115550559 201,500 201,500 27,450 174,050 14.62% 45 CRC Lease 8,185 8,131 0 98,223 98,223 8,185 90,038 8.33% 45 46 Old 70.1 0507750 334 Carmel 015 Lease 2,769 2,759 0 50,000 50,000 2,769 47,231 5.54% 46 47 Parcel 7C Energy Center DOM. 55,396 59,398 0 450,000 450,000 59,398 390,602 13.20% 47 48 Parcel 7C Manager.. Fee 0 0 0 100,000 100,000 0 100,000 00010 48 49 Parcel 7C Garage CAM 23,484 23,484 7 85.000 55,000 28,494 61,506 27.6391 50 755454 71 CPA3/0i5i0 CAM 0 0 0 330,000 330,000 0 330,000 0.00% 50 51 Parcel 10 ShaPIM7 0 0 3 12,000 12,000 2 02,000 0.00% 51 52 Line of Credit Grant to 6700 1,500,000 603,571 896,429 Due to timing issue the second draw has not taken place 3,000,000 3,000,300 603,571 2,396,429 20.17% 52 53 0e1e4491 Way Snow Removal 0 0 0 350,000 350,000 0 350,000 0.00% 54 040550014531 0240 0 0 0 0 0.00% 54 55 Legal Fees 13.157 10,339 2,81$ Difference was a Wallack, Somers and Haas invoke that taas paid in February 210,000 210,700 10,339 199,661 4.92% 56 Arch4E6514eering 0 0 0 20,000 23,000 0 40,300 00091 56 Accounting Fees 13,269 13,269 0 203,000 203,000 13,269 169,731 6,5491 57 58 Planning, Appraisals, Engineer Consulting 11,597 11,597 3 315,000 315,000 11,597 303,403 3,68% 58 59 Miscellaneous 26,236., 21,100 1,106 Difference is the amount 04 00104 0004005 that were already paid in November 30,000 50,0190 21,100 28,900 42.20% 09 60 4CDC Grant - 1ine of Credit Interest Expense 6,313 3 5,313 Itm was never granted to 4CDC In lanaa, 171,000 171,000 0 171,000 M00% 00 31 TOTAL EXPENDITURES -078065748 1,722,902 826,609 696,093 6,556,253 0 6,556,253 823,909 5,729,344 12.61% 61 62 62 63 70781 EXPENDITURES - COMBINED 56638,006 55,324,547 31,233,459 533,524,941 50 533,624,941 $5,324,547 528,303,394 15.843/4 63 Carmel Redeye... ,ant Commission Summary of Cash and Cash Rights For the Month Ending January 31, 2011 Reference A e 1 0 l 0 E F H l 1 l J K Reference 1 1 2 Description Clerk - Treasurer (1) CRC (2) Lake City (3) Harris Bank (4) Wells Fargo (5) Mercantile (6) Star(6) Marine (6) Fowler (6) Total 2 3 Cash and Rights Balance 1/1/12 3 4 1101 Cash $ 10,232.45 $ - $ - $ - $ - $ - $ - $ - $ - $ 10,232.45 4 5 1110 TIF Distributions 7275.56 - - - - _ _ _ - 7,275.56 5 s 1118 2008 TIF Bond Proceeds 2,485.01 - - - - - _ _ - 2,485.01 6 7 1119 2008 TIF Debt Service Res 3,309.91 - - _ - - _ - - 3,309.91 7 8 CRC Star Bank - - - - - _ _ - - _ B 9 4807257943 BMO Harris Bank - 126207.94 - - - - - - - 126,207.94 s 15 87504111 Regions Bank - 5.724,398.31 - - - - - - - 5,724,39831 10 11 Wells Fargo- Energy Center Sale - - - - 354,962.94 - - - - 354,962.94 11 12 Cash Rights - - 1,896,904.96 291,319.04 - 2,500,000.00 3.438.750.00 1,211.330.96 125,034.85 9,463,339.81 12 13 Total Cash $ 23,302.93 $ 5,850,606.25 $ 1,896,904.96 $ 291,319.04 5 354,962.94 $ 2,500,000.00 $ 3,438.750.00 $ 1,211,330.96 $ 125,034.85 $ 15,692,211.93 13 14 14 15 Receipts 15 is Clerk- Treasurer Funds $ - $ - $ - $ - $ - $ _ $ _ $ _ $ - $ - 16 17 Developer Payments - - - - - _ _ _ _ _ 7 18 CRC Star Bank 48,787.06 - - - _ - - - 48,787.06 18 19 4807257943 BMO Harris Bank - - - - - _ _ _ _ _ 19 25 87504111 Regions Bank - 33,184,04 - - - - - - - 33,184.04 20 21 Transfer -/12 - - - _ _ - - _ 21 22 Transfer- /12 - _ _ _ _ _ - _ - 22 2a Transfer -i12 - _ - _ _ - _ - - 24 2a Transfer -112 - - - - 24 25 Total Receipts $ - $ 81.971.10 $ - $ - $ - $ - $ - $ _ $ _ $ 61,971.10 25 26 26 27 Disbursements 7 28 Clerk- Treasurer Funds $ 261.96 $ - $ - $ - $ - $ - $ - $ - $ - $ 261.96 28 26 PAC - - - _ _ - 603.571.00 - - 623,571.00 29 30 Non -PAC - - - - - - _ _ - _ 1 31 CRC Funds 31 32 CRC Star Bank - - _ _ - - 33 33 4807257943 BMO Hams Bank - 57,565.58 - - _ - - - - 57,565.58 33 34 87504111 Regions Bank _ 35 35 Installment Contract Loans - - _ - - _ _ _ _ - 35 35 PAC - - - - _ _ - _ - 36 37 Non -PAC - 5,010,649.68 - - - - - - 5,010.649.68 37 38 4CDC LOC Approved Draws - - _ _ - 12,429.00 - 4,027.09 8,882.81 25,338.90 38 39 Total Disbursements $ 261.96 $ 5,068.215.26 $ - $ - $ - 0 12,429.50 $ 603,571,00 $ 4,027.09 $ 8,882.81 $ 5,672,048.22 39 40 40 41 1101 Cash $ 9,870.49 $ - $ - $ - $ - 8 - $ - $ - $ - $ 9.970.49 41 42 1110 TIF Distributions 7,275.56 - - - _ _ _ - - 7,275.56 42 43 1118 2008 TIF Bond Proceeds 2,485.01 - - - _ _ - - - 2,485.01 43 44 1119 2008 TIF Debt Service Res 3,309.91 - - - - - - - - 3,309.91 44 45 CRC Star Bank - 48 787.06 - - - - _ _ - 48.787.06 45 46 4807257943 BMO Harris Bank - 68,642.36 - - _ _ - _ _ 66,642.36 46 47 87504111 Regions Bank - 746,932.67 - _ _ _ - - - 746,932.67 47 49 Wells Fargo - Energy Center Sole - - - 354,962.94 - - 354,962.94 48 49 Cash Rights - - 1,896,904.96 291,319.04 - 2,487,571.00 2,835,179.00 1.207,303.87 116,152,04 8.834,429.91 49 50 Cash and Rights Balance 1/31/12 $ 23,040.97 $ 864,362.09 $ 1,896.904.96 $ 291,319.04 $ 354,962.94 $ 2,487,571.50 $ 2,835,179,00 $ 1.207,303.87 $ 116,152.04 $ 10,102,134.81 50 51 Total Operating Balance (7) (1) Raprasents funds that ere held by the Clerk - Treasurers Office (2) Represents funds Ihet are held in Accounts controlled by the Cannel (4) Represents remaining funds fmm the 812.000,50 bban, loan close in (4) Represents remaining funds from the 312,500,000 bank%opn oo, (5) Represents remaining funds from the ror Credit of the Participation. Fans (6) Represents remaining funds from Line of Cratltt with the indicated Financial (7) Total operating Balance is the sum of the ending Cash and Cash Rights 400C 4000 Or o7 Credit Funds are granted from the 40100 end CRC Funds 51 52 887,403.06 52 53 Redevelopment Commission 2201 end held el by the 2011 20 and held by the 0l In C (Energy 8 Cente0 Institution. Line for the Clerk - Treasurer 53 54 55 55 56 56 56 57 58 58 58 59 69 60 60 -1C Carmel Redeye.. .rent Commission Debt Summary For the Year Ending December 31, 2012 Reference A B _ 0 0 F G H 1 1 K Reference Old Town Properties - Chaos - Parcel -931 Issuance Type Revenue Source Original Debt Amount Interest Rate 1/1/12 Outstanding Par Amount 2012 Principal Due )1) 2012 Interest Due (1) Total Debt Service First Installment (2) Second Installment (2) Dean & Dottie Harrill Parcel 14 1 Tax Increment Revenue Bonds, Series 2004 A (Illinois Street) Bond TIF $9,500,000 6.650% $7,670,000 $410,000 3503,405 $913,405 0455,028 $458,378 1 2 COIT Revenue Refunding Bonds, Series 200E Bond TIF 5,580,000 5.250. 5.270% 5,580,000 685,000 281,996 966,996 485,341 481,654 2 3 Tax Increment Revenue Bonds of 2008 (City Center) Bond TIF 14,000,000 5.820 - 7.800% 12,935,001 395.000 933,401 1.333,401 667,053 666,349 3 4 Lease Rental Revenue Bonds, Series 2005 (PAC Bonds) Lease TIF 79,998,227 4.000 - 5.00005 75,131,081 1,284,005 3,910,996 5,195,000 2,600,000 2,600,000 4 Sub Totals 109,078,227 $101,316,081 $2,774,005 $5,534,797 58,408,802 54,207,421 64,206,381 Sub Totals $2,515,174 $2,158,453 $86,979 $153,751 $240,730 $20,001 Issuance Type Revenue Source Original Debt Amount Interest Rate 1/1/2012 Outstanding Par Amount 2012 Principal Due (1) 2012 Interest Due (1) Total Debt Service Monthly Payment Reference S Old Town Properties - Chaos - Parcel -931 Contract TIF 8341,174 6.000% $322,608 $8550 $19,670 $29,230 $2,436 5 6 Dean & Dottie Harrill Parcel 14 Contract TIF 574,000 8.000% 546,543 73,072 46,928 120,000 10,000 6 7 Bobby John, LLC Contract TIF 1,300,000 6.770% 1,289,302 4,348 87,152 91,500 7,625 7 Sub Totals $2,515,174 $2,158,453 $86,979 $153,751 $240,730 $20,001 Sub Totals 556,715,001 556,715,000 $0 $4,238,050 594,762 $4,332,812 Installment Purchase Contract Type Revenue Source Total Available Contract Interest Rate 1/1/2012 2012 Principal Due (1) 2012 Interest Due (1) Fees Total Debt Service Total Available Remaining Detail (Page) Reference 115ECOA Revenue Original TIF Outstanding 2012 2012 $315,081 Total 825,000 $802,301 Certificate of Participation (COP) Type Source Debt Amount Interest Rate Amount Principal Due (1) Interest Due (1) Fees (3) Debt Service Reference 8 Certificate of Participation, Series 2010 A COP TIF $37,905,000 7.750- 8.000% $37,905,000 $0 $2,979,900 $31,567 $5,011,487 8 9 Certificate of Participation, Series 2010 8 COP TIF 2,510,000 9.250% 2,510,000 0 232.175 31,587 263,762 9 10 Certificate of Participation, 5eries 2010 C(Ernergy Center; COP TIF 16,300,000 5.750- 6.500% 16,300,000 0 1,025,975 31,587 1,057,562 10 Sub Totals 556,715,001 556,715,000 $0 $4,238,050 594,762 $4,332,812 Sub Totals Grand Total $30,500,000 $248,300,40 $79,770,745 /2,017,623 $2,586,781 2117,770 24,722,173 $447,340 5239,960,279 $4,878,607 012,613,379 $8,862,064 513,282,468 1447,840 (1) total debt service omount,$per om..Tizatlen schedules oflssc.nce (2) To. semi on...I levse pvyment for thcLease.entol Revenue 30n4s, Series 2005 (PAC 80000(x r000''toonnuel dein service plus $5,000 for administrative ondtran..fees 4,041 y (3) Represent 4dministrot've fees pole on each comma. (4) Contracts are controlled by RD to ..vide development and construction fora porton of the regronorperfarm ng vrts center (5)Cantrotts ere wedfortne peat., 00ve,ope. aond.4efinanxou and tof,no, ,portion f00ase lr Deve,opmen t. Installment Purchase Contract Type Revenue Source Total Available Contract Interest Rate 1/1/2012 Outstanding Par Amount 2012 Principal Due (1) 2012 Interest Due (1) Fees Total Debt Service Total Available Remaining Detail (Page) Reference 115ECOA 8- 312009 ICO Clancy Theater Equipment, Sound Equipment, and Seating (Mercantile Bank) IPC TIF 510,000,000 4.750 - 6.000% 29,847,952 $315,081 $462,221 825,000 $802,301 $9,806 4A 11 121 -29 -2010 ICO )90I) IPC TIF 10,000,000 5.340 - 6.000% 10,000,000 235,261 488,464 25,000 748,725 402,456 4B 12 131 -1 -2009 ICO Contacts (Regions Bank) IPC TIF 17,500,000 4.580 - 6.000% 17,090,910 567,552 735,992 23,929 1,377,572 9,223 4C 13 145 - 22.20091 C0 Garage 647 Contracts (Regions Bank) IPC TIF 7,500,000 4.950- 6.000% 7,331,883 329,341 269,548 23,929 623,317 0 4C 14 157 -26 -2010 ICO CTDC Contracts (Regions Bank) IPC TIF 10,000,000 5.240- 6.000% 10,000,000 531,776 143,903 13,662 689,341 26,356 4D 15 166 - 10-2010100 (United Fidelity Bank) )3) IPC TIF 2,500,000 5.250- 6.000% 2,500,000 38,012 119,845 6,250 164,107 0 N/A /4) 16 1712 - 1.2011100 )4ar6s Bank) IPC TIF 17,500,000 3.000% 17,500,000 0 316,809 0 316,800 0 N/A /5) 17 1812- 1- 20111CO )Harris Bank) IPC TIF 4,500,000 3.500% 4,500,000 0 0 0 0 0 61/A (5) 18 1912 - 1.2011 ICO (Harris Bank) IPC TIF 1,000,000 3.500% 1,000,000 0 0 2 0 0 11/3 IS) 19 Sub Totals Grand Total $30,500,000 $248,300,40 $79,770,745 /2,017,623 $2,586,781 2117,770 24,722,173 $447,340 5239,960,279 $4,878,607 012,613,379 $8,862,064 513,282,468 1447,840 (1) total debt service omount,$per om..Tizatlen schedules oflssc.nce (2) To. semi on...I levse pvyment for thcLease.entol Revenue 30n4s, Series 2005 (PAC 80000(x r000''toonnuel dein service plus $5,000 for administrative ondtran..fees 4,041 y (3) Represent 4dministrot've fees pole on each comma. (4) Contracts are controlled by RD to ..vide development and construction fora porton of the regronorperfarm ng vrts center (5)Cantrotts ere wedfortne peat., 00ve,ope. aond.4efinanxou and tof,no, ,portion f00ase lr Deve,opmen t. Carmel Redeye. .ent Commission Debt Summary - Additional Information For the Year Ending December 31, 2012 Reference A 5 C D E F Reference Bond Additional Information Issuance Year Issued 1st Call Final Maturity Payment Dates Purpose of Issuance 1 Tax Increment Revenue Bonds, Series 2004A (Illinois Street) 2004 7/ 15/2014 7/15/2024 7 /15/11, 1/15/12 To finance road and intersection improvements 1 2 COIT Revenue Refunding Bonds, Series 2006 2006 12/15/2012 2/15/2018 6/15/11, 12 /15/11 To refund COIT Revenue Bonds of 1998 , which were originally Issued for the acquisition and redevelopment of property in the City Center Redevelopment Area 2 3 Tax Increment Revenue Bonds 0`2008(008 Center) 2008 7/15/2012 1/15/20291/15/11,7 /15/11 To refund 2003, 2004, 2005, and 2007 Notes that were issued to fund property acquisition and redevelopment projects located In or serving or benefiting the City Center Redevelopment Area or the 126th Street Corridor EDP. 3 4 COIT Lease Rental Revenue Bonds of 2005 (Performing Arts Center) 2005 2/1/2011 2/1/203&7/11/11, 1/11/12 To finance the design and construction of a new performing arts tenter Complex 4 land Contract Additional Information Issuance Year Issued 1st Call Final Maturity Payment Dates Purpose of issuance S Old Town Properties - Chaos - Parcel -931 2006 N/A 11/1/2016 First of every month Acquisition of Parcel 931 6 Dean & Dottie Harrill Parcel 14 2010 N/A 3/1/2015 First of every month Acquisition of Parcel 14 6 7 Bobbylohn 1.10 2011 N/A 8/2/2013 First of every month Acquisition of Property 7 Cer ificate of Participation - Additional Information Issuance Year Issued 1st Call Final Maturity Payment Dates Purpose of Issuance 3 Certificate of Participation, Series 2010 A 2010 1/ 15/19301/15/20357 /15/11,1/15/12 To Provide for the development and construction of a portion of the regional performing arts center 3 9Certlfate of Participation, Series 2010 B 2010 N/A 1/15/20317/15/11,1 /15/12 To Provide for the development and construction of a portion of the regional performing arts Centel 9 10 Certificate of Participation, Series 2010 C (Energy Center) 2010 7/ 15/2022 7/15/20357 /15/11,1/15/12 To Provide for the development and construction of a portion of the regional performing arts center 10 Installment Purchase Contract - Additional Information Issuance Year Issued 1st Call Final Maturity Payment Dates Purpose of Issuance 11 8 -31 -2009 ICO Clancy Theater Equipment, Sound Equipment, and SECOA Seating (Mercantile Bank) 2009 N/A 7/1/ 203110/1/11, 2/1/11,3/1/11,4 /1/11,5/1/11, 6/1/11, 7/1/11,8/1/11, 9/1/11, 11/1/11, 12 /1/11, 1/1/12 To provide Theater Equipment, Sound Equipment, and 5ECOA Seating 11 121 -29 -2010 ICO (National Bank of Indianapolis) 2010 N/A 7/ 1/ 20304 /1/11,7/1/11,10 /1/11,1/1/12 To Provide for the development and construction of a portion of the regional performing arts center 12 131- 1- 2009ICO Contracts (Regions Bank) 2009 9/4 1/1/20294 /1/11,7/1/11,10 /1/11,1/1/12 To Provide for the development and construction of a portion of the regional performing arts center 13 14 5 -22 -2009 ICO Garage 047 Contras (Regions Bank) 2009 N/A 1/1 /2029 4/1/11, 7/1/11, 1/1/12 To Provide for the development and construction of a portion of the regional performing arts center 14 157- 26- 20101C000DC Contracts (Regions Bank) 2010 N/4 7 /1/ 20304/1/11,7/1/11,10 /1/11,1/1/12 To Provide for the development and construction of a portion of the regional performing arts center 15 16 9-10-2010100 (United Fidelity Bank) 2010 N/A 1/1/2029 4/1/11, 7/1/11, 10 /1/11,1/1/12 To Provide for the development and construction of a portion of the regional performing arts center 16 17 12-1-2011100 (Harris Bank) 2011 N/A 7/10/2033 1/15 and 7/15 To Provide for the development and construction of a portion of Pedcor 17 18 12 -1 -2011 ICO (Harris Bank) 2011 N/4 7/15/2034 No Payments in 2012 To Provide for the development and construction of a portion of Pecker 18 19 12- 1- 2011100 (Harris Bank) 2011 N/A 7/15/2034 No Payments In 2012 To Provide for the development and construction of a portion of Pedcor 19 -2A- Carmel Redeye„ .,ent Commission Developer Bonds (Informational Purposes Only) As of January 31, 2011 Reference A B C D E F G Reference Original Issuance Outstanding June 2011 Decemher2011 1 Issuance (1) TIF Area (2) Amount Balance Maturity Collections (2) Collections (2) 1 2 Taxable Increment Revenue Bonds of 1998 (Merchants Square Project) Merchants Square 52,655,000 51,640,000 2018 5281,593 $219,155 2 3 Taxable Economic Development Revenue Bonds, Series 2002 (Parkwood East Project) Parkwood East 3,560,000 2,955,000 2022 487,980 487,980 3 4 Taxable Economic Development Revenue Bonds, Series 2006 ( Parkwood West Project) Parkwood Crossing 4,800,000 3,285,000 2026 660,752 316,518 4 5 Taxable Economic Development Revenue Bonds, Series 2006 B (Buckingham. - Gramercy Project) (3) Gramercy 20,000,000 148,107 2027 4 4 5 6 Taxable Economic Development Revenue Bonds of 2011 Meridian and Main 751,500 751,500 2031 0 0 6 7 Senior Economic Development Revenue Bonds, Series 20114 Arts District Lofts & Shoppes 9,630,000 9,630,000 2031 10,925 10,925 7 8 Subordinate Economic Development Revenue Bonds, Series 20116 (41 Arts District Lofts & Shoppes 3,370,000 2,370,000 2035 0 0 8 9 Total 544,766,500 $20,779,607 51,441,253 51,034,582 9 10 10 11 (1) The CRC Payable portion of the debt service is limited up to the total incremental revenues of the designated TIE area. Any debt service in excess of the increment revenues l liable to the developer. The total ovtstondingprincipol amounts seen above do not 11 12 reflect a direct obligotion to the Carmel Redevelopment Commission. 12 13 13 14 (2) Al! collections are allocated to the developer payments with the exception of the Taxable Economic Development Revenue Bonds 4E2011, only 50% of the total of the increment generated is pledged towards payment of the bonds. 14 15 15 16 16 17 (3) The Bonds were issued as draw bonds. The amountshovm represents the amount of principal drawn down and outstanding per the Trustee. 17 18 18 19 (4) The Bonds were issued as draw bonds. The amount shown represents the amount of principal drown down and outstanding per the official draws scheduled in the Issuance Offering Documents. 19 20 20 Carmel Redeye. .rent Commission 4CDC Grant Obligations As of January 31, 2012 Reference Al Reference 2 Current Grants /obligations 3 14 Closing Closing Original Current Amount Use of Primary 4 Bank lime Interest Rate Date Maturity Debt Amount Balance Available for Use Proceeds Repayment Option 5 Star Financial Bank LOC LIBOR plus 3.50% Floating 11/8/2011 11/8/2012 55,000,000 /2,164,821 $2,835,179 xy.v TIF 6 Fowler State Bank LOC 4.50% Floating 11/8/2011 11/8/2012 2,500,000 2,383,848 116,152 +5v Via- ^ TIF 7 Marine Bank LOC 450% Floating 11/30/2011 11/30/2012 2,500,000 1,297,896 1,207,304 TIF B Mercantile (1) LOC 4.5% Floating 11/15/2011 1/18/2012 2500,000 12,429 2,487,571 , , Y�1 TIF BM0 Harris Bank Bank Loan 397% Fixed Rate 9/30/2011 9/30/2016 12,500,000 12,208,681 291,319 Pay Construction Costs on Office Building One TIF 10 Lake City Bank Bank Loan 5.00% Floating Rate 12/28/2010 12/28/2012 8,000,000 6,103,095 1,896,905 Parcel 85 - Veterans Way Street Extension and Hot and Cold Waterline extension and retrofit of City Building TIF ota 2 4 7 10 11 12 13 14 15 16 17 18 19 20 21 12 Pend ng Lines of Credit 14 Closing Original Current Amount Use of Primary 15 Bank Type Interest Rate Date Maturity Debt Amount Balance Available for Use Proceeds Repayment Option 16 M &18ank (1) Line of Credit 30 day LIBOR(-275 BP Pending Feb 2013 2,500,000 0 7,500,000 ,,. TIF 17 Total $2-599 OQQ /Q /2 500 000 18 (1)M &I Bonk Lines of Credit has not closed as of December 31, 2011, The closing dote on the tine of Credit issti Pending, and ail information seen above for these lines is estimated and subject to chonge. Funds will not be available for use until ofter closing. MEI IMMO Carmel Redevek, ,vent Commission Installment Purchase Contracts - Summary As of January 31, 2012 Reference A I B ICI o I E 1 F I G I H 1 I 1 K Reference 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Description Amount Original Contract Available $57,500,000 Plus: Renewed NBI Contracts 860,000 Less: Current Contract Obligations 56,305,538 Less: Installment Contracts Due 127,639 Less: Attorney Fees 357,701 Less: Bank Fees and Wire Fees 112,896 Less: Closing Costs 219,500 Less: Design Fees 800,000 Less: Retention Hold (Mercantile) 13,303 Add: Interest 24,417 Remaining Available for Contracts $447,840 -4- 1 2 3 4 6 7 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Carmel Redeve., . nent Commission Installment Purchase Contracts - Mercantile $10,000,000 As of January 31, 2012 Reference I A I B I C 1 D I E Reference 1 1 2 Contract Name 8/31/2009 ICO Clancy Theater Equipment, Sound Equipment, and SECOA Seating 2 3 3 4 4 5 IPC # Vendor Bank Equipment /Contract Contracts 5 6 Mercantile Mercantile Capitalized Payment $ 127,639.00 6 7 1 JR Clancy Mercantile Theater Equipment $ 6,990,040 7 8 2 SECOA Mercantile Theater Seating $ 776,883 8 9 3 All Pro Sound Mercantile Sound Equipment $ 1,530,970 9 10 4 Smock Fansler Mercantile Hanover Square Improvements $ 331,500 10 11 Total $ 9,629,393 11 12 Original Contact Amount $10,000,000 Less: Current Obligations 9,629,393 Less: Closing Costs 219,500 Less: Installment Obligations Due 127,639 Less: Retention Held 13,303 Less: Wire Fees 360 Remaining Available for Contracts 59.806 12 13 13 14 14 15 15 16 16 17 17 18 18 19 19 -4A- Carmel Redevelor..oent Commission Installment Purchase Contracts - NBI $10,000,000 As of January 31, 2012 Reference A 1 B 1 C I D I E Reference 1 1 2 Contract Name 1/29/2010 ICO 2 3 IPC # Vendor Bank Equipment/Contract Contracts 3 4 1 Bybee Stone NBI Limestone $ 3,215,420 4 5 2 Horning Roofing NBI Red Clay Tile Roofing $ 419,400 5 6 3 Certified Floorcovering NBI Carpet and Tile $ 467,525 6 7 4 Cincinnati Floor Company NBI Wood Flooring for Auditorium, Stage, and Suites $ 694,459 7 8 5 Gibraltar NBI Veteran's Way $ 1,914,078 8 9 6 Smock NBI City Center Dr. /Rangeline Rd. Streetscape 9 10 6 Signature NBI City Center Dr. /Rangeline Rd. Streetscape $ 1,459,095 10 11 7 Sign -A -Rama NBI Wayfinding Signage Improvements $ 72,658 11 12 8 C &T Design NBI Cafe Equipment $ 30,345 12 13 9 Indy Stage and Sales NBI Lighting Equipment $ 43,495 13 14 10 Alexis Manufacturing NBI Seating $ 10,861 14 15 11 PS Furniture NBI Furniture $ 4,690 15 16 12 Smock NBI Motor Court Improvements $ 51,598 16 17 13 C &T Design NBI Kitchen Equipment $ 7,833 17 18 14 Brenner Design NBI FF &E $ 198,156 18 19 15 Antresian NBI Bar Equipment $ 25,000 19 20 16 Series, LLC NBI Custom Chairs $ 22,564.00 20 21 17 Harmon Signs NBI Parcel 7C Venues Signage $ 177,000.00 21 22 18 Indy Stage and Sales NBI Studio Theater Lighting $ 25,000.00 22 23 19 Indy Stage and Sales NBI Tarkington Theater Lighting $ 39,415.80 23 24 20 Indiana Store Fixture NBI Gift Shop Improvements $ 60,000.00 24 25 21 Bybee Stone NBI Stone Planters $ 457,000.00 25 26 N/A Parcel 16 Land Purchase NBI Parcel 16 Land Purchase $ 860,503 26 27 Total $ 10,256,095 27 Original Contact Amount $10,000,000 Plus Renewed Contract Amounts $860,000 Less: Current Obligations 10,256,095 Less Bank Fees 37,500 Less: WSH Legal Fees 157,400 Less: Hall Render Legal Fees 30,930 Less: Wire Fees 36 Add: Interest Earned * 24,417 Remaining Available for Contracts $402,456 28 28 29 29 30 30 31 31. 32 32 33 33 34 34 35 35 36 36 *Note - Earned interest is due to funds deposited in a Capital Money Market Savings Account. 37 37 -4B- Carmel Redevelor,nent Commission Installment Purchase Contracts - Regions $17,500,000 and $7,500,000 As of January 31, 2012 Reference A I B I C ] D I E Reference 1 1 2 Contract Name 1/1/2009 ICO Contracts 2 3 3 4 IPC # Vendor Bank Equipment/Contract Contracts 4 5 Various Regions P47 Garage $ 8,825,000 5 6 1 Ermco Regions Lighting Fixtures and Generator $ 3,034,000 6 7 2 Waltek Regions Acoustical Canopy $ 1,111,932 7 8 3 Indy Stage and Sales Regions Production Lighting $ 765,374 8 9 4 Poynter Regions Air Handlers, Fans, VAV Boxes $ 1,005,000 9 10 5 Ebenisterie Beaubois Regions Mill Work $ 3,165,282 10 11 11 12 6 WR Dunkin Regions Elevators, Fire Protection, and Pumps $ 2,208,370 12 13 6 Simplex Grinnell Regions Elevators, Fire Protection, and Pumps $ 629,930 13 14 6 General Piping Regions Elevators, Fire Protection, and Pumps $ 614,483 14 15 Total $ 3,452,782 15 16 7 Spohn Associates Regions Interior Ornamental $ 2,100,157 16 17 7 Leach and Russell Regions Interior Ornamental $ 573,000 17 18 Total $ 2,673,157 18 19 8 Brad Howe Regions Sculpture Improvements $ 80,000.00 19 20 9 Incord Regions Pit Safety Equipment $ 6,643.00 20 21 10 Esco Communications Regions Microphone Equipment $ 51,606.69 21 22 11 Morphey Construction Regions Signage Improvements $ 20,000.00 22 23 Total $ 24,190,777.10 23 24 24 25 Original Contact Amount $25,000,000 25 26 Less: Current Obligations 24,190,777 26 27 Less: Design Fees 800,000 27 23 Remaining Available for Contracts 1222a 28 29 29 30 Note - The above information is for the combined Regions $17,500,000 and $7,500,000 obligations 30 -4C- 67 Original Contact Amount $10,000,000 68 Less: Current Obligations 9,729,273 .12 8 P2, 12 2 ,T V, 'O. 2 g ; Y.' tl; '4 ■- 2 8 tt t t ..F.1 'IA t i: Ft := ,' `, .'t,' : !, ,''', `, .:,-' ■:4; ■ 2 8 to' 6' 1:1 t', t*,,, V. : ? 8 to- "g , :I 4; 'CA .i.: Lt ';', '..' us co , o, 0-. 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